Happy Tuesday, all! We'll kick off today's roundup with a little international flavor...
The European Union's budget chief, Janusz Lewandowski, has started a bit of a firestorm over comments in preparation for a review of farm subsidies in the EU. In addition to seeking cuts, he wants to reduce or eliminate rebates to nations that don't receive as much subsidy allocation, such as Britain. Countries in a united economic bloc, with different geographies and different labor markets, trying to figure out how to agree on agricultural subsidies? Pass me the popcorn, because this stands to get interesting.
Flooding that has destroyed this year's crops in Pakistan stands to do the same to next year's wheat crop as well. According to the AP (via MSNBC), some areas are still underwater, and even if the floods hadn't taken away or destroyed the seed for next year, the ground wouldn't be ready for the fast-approaching Pakistani planting season. Yes, that's even more troubles for the international wheat market.
Back on US soil, estimates on the corn crop are still uncertain, according to AgriNews online, which, coupled with high demand, are causing some unsteadiness in the prices of the commodity. In the meantime, with the recent egg recalls, egg farms in Connecticut are experiencing increased interest in folks looking to buy their eggs. Sure, there is a "local food" aspect to this, as the Fairfield Patch notes, but it seems pretty cut-and-dried to me: A reduction in supply, no matter how it's achieved, is going to result in better prices on the remaining supply, provided demand remains the same. The story mentions increased demand, of course, but it's not the demand that's increasing - it's just moving to a new supply.
Finally, Indiana Biofuels has an interesting video describing the process by which ethanol fuel is made. It's entertaining AND informative! (Also, it kind of makes me want to get back to home-brewing beer, for some reason.)
Have a great day, everyone!